Whales with a lot of money to spend have taken a noticeably bearish stance on ServiceNow.
Looking at options history for ServiceNow NOW we detected 31 trades.
If we consider the specifics of each trade, it is accurate to state that 32% of the investors opened trades with bullish expectations and 51% with bearish.
From the overall spotted trades, 21 are puts, for a total amount of $1,352,713 and 10, calls, for a total amount of $421,819.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $650.0 to $840.0 for ServiceNow over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for ServiceNow's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale trades within a strike price range from $650.0 to $840.0 in the last 30 days.
ServiceNow Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | PUT | SWEEP | BEARISH | 06/07/24 | $24.9 | $23.2 | $24.9 | $690.00 | $206.7K | 202 | 85 |
| NOW | PUT | SWEEP | BULLISH | 06/07/24 | $22.9 | $20.8 | $20.8 | $685.00 | $133.0K | 178 | 14 |
| NOW | CALL | TRADE | BULLISH | 11/15/24 | $65.5 | $62.8 | $65.5 | $680.00 | $98.2K | 47 | 15 |
| NOW | CALL | TRADE | NEUTRAL | 09/20/24 | $11.2 | $10.1 | $10.71 | $800.00 | $80.3K | 155 | 0 |
| NOW | PUT | SWEEP | NEUTRAL | 11/15/24 | $63.9 | $60.2 | $63.6 | $680.00 | $70.2K | 600 | 200 |
About ServiceNow
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
Present Market Standing of ServiceNow
- Currently trading with a volume of 791,973, the NOW's price is up by 1.13%, now at $667.57.
- RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
- Anticipated earnings release is in 50 days.
Professional Analyst Ratings for ServiceNow
4 market experts have recently issued ratings for this stock, with a consensus target price of $860.0.
- In a cautious move, an analyst from Wolfe Research downgraded its rating to Outperform, setting a price target of $830.
- Consistent in their evaluation, an analyst from Baird keeps a Outperform rating on ServiceNow with a target price of $885.
- Reflecting concerns, an analyst from JMP Securities lowers its rating to Market Outperform with a new price target of $825.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $900.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest ServiceNow options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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